Bitcoin - volume support zone + Gartley
On many cryptocurrency exchanges, there has been a huge volume with the recent BTC price drop. What's more, this volume seemed to be also generated during market stabilization and a strong rebound.
Thus, a volume support zone for the candle from March 13 could be created. Its spread is quite large because it stretches between levels of 6000 to 4000 USD. Nevertheless, this zone appeared at the end of the potential harmonic formation - Gartley pattern. Hence the upward movement on the entire market is still possible.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Thus, a volume support zone for the candle from March 13 could be created. Its spread is quite large because it stretches between levels of 6000 to 4000 USD. Nevertheless, this zone appeared at the end of the potential harmonic formation - Gartley pattern. Hence the upward movement on the entire market is still possible.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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